DAYS after Tullow Guyana B.V – a subsidiary of UK-based oil company Tullow Oil plc, made its first oil discovery offshore Guyana at Jethro-1 well in the Orinduik Block, Director of Energy, Dr. Mark Bynoe was given an opportunity to have a first-hand look at Stena Forth in operation.

Jethro-1 was drilled by the Stena Forth drillship to a total depth of 4,400m in approximately 1,350 metres of water. Dr. Bynoe travelled to the vessel on Thursday with Tullow Oil Executive Vice President (New Ventures) Ian Cloke; Tullow Oil Guyana B.V. Country Manager, Joachim Vogt; Tullow Oil plc Head of Operations and External Affairs (New Ventures and Exploration) Eric Bauer, along with Environmental Protection Agency, Executive Director, Dr. Vincent Adams and British High Commissioner to Guyana, Greg Quinn.

Reflecting on trip, Dr. Bynoe, in an interview with the Ministry of the Presidency’s Public Information and Press Services Unit, said the visit to the Stena Forth was tremendous as it brought a new appreciation of the entire cycle of operations involved in the petroleum sector.

“[The visit] allowed us an opportunity to assess the work that is currently being carried out as well as to interact with those who are at the front end….It is vital that we have a full appreciation of the range of services and expertise that are required that if, as Guyanese, we are moving to manage, but also take greater control of the sector. We’re able to allow for those expertise to be developed and ultimately be employed within the sector going forward,” the Energy Director explained.

The Stena Forth drillship is also being used by Eco (Atlantic) Oil and Gas Ltd to drill the Joe prospect in the Orinduik Block. According to Eco Joe-1 was spud at 14.45hrs on August 25, 2019 using the Stena Forth drillship.

Eco and its partners on the Orinduik Block, Tullow Guyana B.V. – operator of 60 per cent of the Working Interest (“WI”), and Total E&P Guyana B.V. (25% WI), estimate the well will take approximately three weeks to drill.

The Joe prospect is a Tertiary feature on the northern part of the Orinduik Block in approximately 700 meters of water and is estimated by Gustavson Associates to hold 148.3mmboe of gross unrisked prospective oil resources (P50), the company explained.
Joe is the second of Eco’s two-well drill programme in Guyana for this year and the company is fully funded for a further six potential exploration, appraisal or development wells on the Orinduik Block.

According to a Production Sharing Agreement (PSA) signed between the Government of Guyana, Tullow Guyana B.V and Eco (Atlantic) Guyana Inc., the country could benefit from as much as 60 per cent in oil profit, including a one per cent royalty once the explorations are successful and the companies start pumping for oil in the Orinduik Block.

The Orinduik Block is adjacent to ExxonMobil’s Stabroek Block, on which thirteen discoveries have been announced and over six billion barrels of oil equivalent recoverable resources are estimated. First oil production is expected from the deep-water Liza Field in 2020.